Google shares suspended after profit results blunder

<p>Google’s shares have plunged due to a results publishing blunder.</p>

Trading in Google's shares was suspended for two-and-a-half hours yesterday (October 18th), after the company released its results for the three months to September early by mistake.

Google's quarterly profits plunged by 20 per cent year-on-year to $2.18 billion (£1.35 billion) – well below analysts' expectations – but the business blamed financial printing firm RR Donnelley for filing an early draft of the data, which had been expected after the closing bell.

The internet giant's draft results – which were filed with the Securities and Exchange Commission – were published at 16:30 GMT, three-and-a-half hours ahead of schedule.

When shares in the organisation were suspended, they were lower by nine per cent.

Chief executive Larry Page apologised to analysts for the blunder and added that Google had in fact had a strong third quarter.

When the Nasdaq closed last night, Google was down by more than eight per cent to a price of $695.00 per share.

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